Rental demand up dramatically

[John C.]

In our neck of the woods (Metro Atlanta) rental demand is through the roof. We have a waiting list and cannot answer the phone fast enough. Upward pressures on rents have enabled us to send out "rental increase" letters for the first time in several years. On the multifamily we are finally able to pass the water bills off to the tenants. Truly amazing.

We are also experiencing a higher rate of turnover. Tenants that have buckled down with us through the recession are buying houses or moving closer to their new jobs. These are the tenants that leave the home in a "clean and ready to rent condition normal wear and tear excepted" as specified under GA Law. Once again a rarity.

How are things looking in your area? Thoughts?

[Shawn Holsapple]

Indianapolis has been strong for several years and seems to be getting better all the time. With high rental amounts, strong rental demand and low prices [these are creeping up though] Indy is a hot market to be in. I'm glad I live here!

To help cut down on tenant turnover, I've switched most of my SFH over to lease option. This gives me a 3 year lease, virtually no maintenence or calls from the tenant/buyer plus full or above market rent. Then of course, the perk of selling at full price [if they ever execise their option to purchase - which is only about 10% of the time].